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CA renter.
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June 28, 2011 at 11:58 PM #707710June 29, 2011 at 12:23 AM #706505
CA renter
Participant[quote=AN][quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.[/quote]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.
June 29, 2011 at 12:23 AM #706603Participant[quote=AN][quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.[/quote]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.
June 29, 2011 at 12:23 AM #707203Participant[quote=AN][quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.[/quote]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.
June 29, 2011 at 12:23 AM #707352Participant[quote=AN][quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.[/quote]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.
June 29, 2011 at 12:23 AM #707715Participant[quote=AN][quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.[/quote]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.
June 29, 2011 at 12:46 AM #706510an
Participant[quote=CA renter]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.[/quote]
Care to explain how someone can be paying too much, yet have no way to pay any less? Almost NOTHING you buy today is at a wholesale price, so, by your logic, you’re paying too much for EVERYTHING. You just have no way to pay any less.June 29, 2011 at 12:46 AM #706608Participant[quote=CA renter]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.[/quote]
Care to explain how someone can be paying too much, yet have no way to pay any less? Almost NOTHING you buy today is at a wholesale price, so, by your logic, you’re paying too much for EVERYTHING. You just have no way to pay any less.June 29, 2011 at 12:46 AM #707208Participant[quote=CA renter]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.[/quote]
Care to explain how someone can be paying too much, yet have no way to pay any less? Almost NOTHING you buy today is at a wholesale price, so, by your logic, you’re paying too much for EVERYTHING. You just have no way to pay any less.June 29, 2011 at 12:46 AM #707357Participant[quote=CA renter]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.[/quote]
Care to explain how someone can be paying too much, yet have no way to pay any less? Almost NOTHING you buy today is at a wholesale price, so, by your logic, you’re paying too much for EVERYTHING. You just have no way to pay any less.June 29, 2011 at 12:46 AM #707720Participant[quote=CA renter]Yes, you are correct, but it’s also true that if the loan is sold off to another lender (not necessarily GSEs or other lenders who don’t do business with retail clients), the borrower is paying too much.[/quote]
Care to explain how someone can be paying too much, yet have no way to pay any less? Almost NOTHING you buy today is at a wholesale price, so, by your logic, you’re paying too much for EVERYTHING. You just have no way to pay any less.June 29, 2011 at 6:34 AM #706525SD Realtor
ParticipantAgain I think the original statement is made entirely because people do not understand the secondary market.
Come on guys, the fact is that the wholesale value of any note changes everyday with interest rates. The actual value of a note changes daily so making statements like what was made above are done because people don’t understand the basics of note trading. To think the value of a note on the day a mortgage is originated stays the same as the bond market fluctuates daily is a simple lack of knowledge.
This is understandable.
June 29, 2011 at 6:34 AM #706623ParticipantAgain I think the original statement is made entirely because people do not understand the secondary market.
Come on guys, the fact is that the wholesale value of any note changes everyday with interest rates. The actual value of a note changes daily so making statements like what was made above are done because people don’t understand the basics of note trading. To think the value of a note on the day a mortgage is originated stays the same as the bond market fluctuates daily is a simple lack of knowledge.
This is understandable.
June 29, 2011 at 6:34 AM #707223ParticipantAgain I think the original statement is made entirely because people do not understand the secondary market.
Come on guys, the fact is that the wholesale value of any note changes everyday with interest rates. The actual value of a note changes daily so making statements like what was made above are done because people don’t understand the basics of note trading. To think the value of a note on the day a mortgage is originated stays the same as the bond market fluctuates daily is a simple lack of knowledge.
This is understandable.
June 29, 2011 at 6:34 AM #707372ParticipantAgain I think the original statement is made entirely because people do not understand the secondary market.
Come on guys, the fact is that the wholesale value of any note changes everyday with interest rates. The actual value of a note changes daily so making statements like what was made above are done because people don’t understand the basics of note trading. To think the value of a note on the day a mortgage is originated stays the same as the bond market fluctuates daily is a simple lack of knowledge.
This is understandable.
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